712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
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712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
712 GRAND Avenue
Sold

712 GRAND Avenue

712 GRAND Avenue, Grand Lake, CO 80447

$2,100,000
The Lone Eagle Lodge has stood the test of time. Originally constructed in 1960, the Lodge has operated as a motel for generations of visitors and is located in the heart of historic Grand Lake village, walking distance to the lake, restaurants, shopping and many outdoor activities. Grand Lake is the western gateway to Rocky Mountain National Park, where you can escape from the hustle and bustle of everyday life, relax and enjoy little touch of nature.

Rustic is a great description of the 17 guest rooms & 3 apartments complete with pine wood furniture and cozy linens & blankets. Each of the rooms has a unique life of its own. The apartments are fully equipped housing units with kitchens (the two owner/operators and a full time tenant occupy units today).

Priced at a 9% Cap based 2021 The property also includes a full laundry facility, modest convenience store & fuel station with supplies tourists and locals crave  fuel, snowmobile parts, fishing supplies, etc. The store could easily accommodate additional revenue streams such as tourist-oriented supplies, fishing licenses, grab-n-go breakfast food, ice cream, or a sandwich shop. In addition, the main building is also set up for a tenant/operator to run a full-service auto repair shop in an adjacent space complete with vehicle lift (great additional income stream).

Grand Lake was established in 1881 and resides at an elevation of 8,269 feet above sea level. The Grand Lake is Colorado's deepest & largest natural lake, cut by a glacier a millennia ago, boasts a maximum depth of 389 feet. Summer activities include boating, sailing, kayaking, swimming, fishing and other water sports. Hiking and mountain biking are also exceptional popular in the area. Winter activities include hundreds of miles of snowmobiling trails as well as a world class Nordic skiing facility. Not to mention, Grand Lake is 45 minutes from the Winter Park Resort.

Modern marketing, direct booking & social media will drive positive growth and immediate impact. The post-Covid travel & lodging opportunity is shaping up to be very attractive for hospitality & destination operators.

2021 Full Year NOI Cap Rate = 9.12% at asking price. With a modest 15% increase in lodge occupancy, and rental income from the 2 apartments, the NOI increases substantially and leads to a 13+ Cap in 1 year. Financial model available upon request.

The Fuel Station could be eliminated and the convenience store could be converted to a restaurant or other attraction. The seller is willing to work with a buyer who is not interested in the fuel station operation.

Additional Interesting Resources:

Why You Should Consider a Winter Vacation to Grand Lake
https://www.5280.com/2020/03/why-you-should-consider-a-winter-vacation-to-grand-lake/

Constitution Week Celebration
https://www.grandlakeusconstitutionweek.com/

Winter Carnival
https://gograndlake.com/winter-carnival/

22
beds

22.5
baths

11,011 Sq.Ft. LIVING AREA

0.51 Acres lot

John Sanderson

John Sanderson

Features & Amenities

Interior

  • total bedrooms22
  • Total bathrooms22.5
  • full bathrooms22
  • half bathroom1

Area & Lot

  • Status Sold
  • Living Area11,011 Sq.Ft.
  • Lot Area0.51 Acres
  • MLS® ID21-705
  • TypeCommercial
  • YEAR BUILT1960
  • Architecture StylesNOT APPLICABLE

Exterior

  • Garage Space2.0
  • parkingAttached

Financial

  • Sales Price$2,100,000
  • Real Estate Tax $453/yr

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